8July2015

DearChairpersonandManagingDirector,
OnbehalfoftheHellenicRepublic("theRepublic"or"Greece"),Iherebypresenta
requestforstabilitysupportwithinthemeaningofArticles12and16oftheESM
TreatygiventherisktothefinancialstabilityofGreeceasamemberstateandofthe
euroareaasawhole.
Specifically,GreeceseeksfromtheESMaloanfacility("Loan"or"Programme")
withanavailabilityperiodforthreeyearsinaccordancewiththeconditionsprovided
inArticle13oftheESMTreatyandinArticle2intheGuidelineofLoans.TheLoan
willbeusedtomeetGreece'sdebtobligationsandtoensurestabilityofthefinancial
system.
ConsistentwiththeprinciplesofthismediumtolongtermProgramme,theRepublic
iscommittedtoacomprehensivesetofreformsandmeasurestobeimplementedin
theareasoffiscalsustainability,financialstability,andlongtermeconomicgrowth.
WithintheframeworkoftheProgramme,weproposetoimmediatelyimplementaset
ofmeasuresasearlyasthebeginningofnextweekincluding:
TaxreformrelatedmeasuresPensionrelatedmeasures
WewillalsoincludeadditionalactionsthattheRepublicwillundertaketofurther
strengthenandmodernizeitseconomy.TheGreekgovernmentwillonThursday9
Julyatthelatestsetoutindetailitsproposalsforacomprehensiveandspecificreform
agendaforassessmentbythethreeInstitutionstobepresentedtotheEuroGroup.
Inadditiontotheabove,itistheexpressedgoalbytheGreekgovernmentthatbythe
endoftheavailabilityperiodoftheLoanorearlier,itregainsfullandaffordable
marketfinancingtomeetitsfuturefundingrequirementsaswellassustainable
economicandfinancialsituation.Aspartofbroaderdiscussionstobeheld,Greece
welcomesanopportunitytoexplorepotentialmeasurestobetakensothatitsofficial
sectorrelateddebtbecomesbothsustainableandviableoverthelongterm.
Greeceiscommittedtohonoritsfinancialobligationstoallofitscreditorsinafull
andtimelymanner.WetrustMemberStatesappreciatetheurgencyofourLoan
requestatthistimegiventhefragilityofourbankingsystem,ourshortageofavailable
liquidity,ourupcomingobligations,ourbuildupofinternalarrears,andourexpressed
desiretoclearouroutstandingarrearswiththeIMFandtheBankofGreece.
WereiteratetheGreece'scommitmenttoremainamemberoftheEurozoneandto
respecttherulesandregulationsasamemberstate.Welookforwardtoyour
favorableandtimelyconsiderationofourrequest.
Foravoidanceofdoubt,thislettersupersedesourpreviousrequestletterdated30June
2015.

Greece:PriorActions

PolicyCommitmentsandActionstobetakeninconsultationwithEC/ECB/IMFstaff:
1.2015supplementarybudgetand201619MTFS
AdopteffectiveasofJuly1,2015asupplementary2015budgetanda201619
mediumtermfiscalstrategy,supportedbyasizableandcrediblepackageof
measures.Thenewfiscalpathispremisedonaprimarysurplustargetof(1,2,3),and
3.5percentofGDPin2015,2016,2017and2018.ThepackageincludesVAT
reforms(^|2),othertaxpolicymeasures(^|3),pensionreforms(i|4),public
administrationreforms(f5),reformsaddressingshortfallsintaxcollection
enforcement(T16),andotherparametricmeasuresasspecifiedbelow.
Taxheaven
1,
2015
20162019
.

1,2,33,5%,
2015,2016,20172018,.
,,
,,
.

2.VATreform
AdoptlegislationtoreformtheVATsystemthatwillbeeffectiveasofJuly1,2015.
Thereformwilltargetanetrevenuegainof1percentofGDPonanannualbasisfrom
parametricchanges.ThenewVATsystemwill:
(i)unifytheratesatastandard23percentrate,whichwillincluderestaurantsand
catering,andareduced13percentrateforbasicfood,energy,hotels,andwater
(excludingsewage),andasuperreducedrateof6percentforpharmaceuticals,books,
andtheater;
(ii)streamlineexemptionstobroadenthebaseandraisethetaxoninsurance;and
(iii)Eliminatediscountsonislands,startingwiththeislandswithhigherincomesand
whicharethemostpopulartouristdestinations,exceptthemostremoteones.This
willbecompletedbyend2016,asappropriateandtargetedfiscallyneutralmeasures
tocompensatethoseinhabitantsthataremostinneedaredetermined.ThenewVAT
ratesonhotelsandislandswillbeimplementedfromOctober2015.
TheincreaseoftheVATratedescribedabovemaybereviewedattheendof2016,
providedthatequivalentadditionalrevenuesarecollectedthroughmeasurestaken
againsttaxevasionandtoimprovecollectabilityofVAT.Anydecisiontoreviewand
reviseshalltakeplaceinconsultationwiththeinstitutions.
Taxheaven

1.2015.
,1%.

),23%
(catering),13
,,,
(),6
,,.
().
(iii),
,
.

2016,
.

2015.

2016,

.
.

3.Fiscalstructuralmeasures
Adoptlegislationto:
closepossibilitiesforincometaxavoidance(e.g.,tightenthedefinitionoffarmers),
takemeasurestoincreasethecorporateincometaxin2015andrequire100percent
advancepaymentsforcorporateincomeandgraduallyforindividualbusinessincome
taxby2017.
phaseoutthepreferentialtaxtreatmentoffarmersintheincometaxcodeby2017:
raisethesolidaritysurcharge.
abolishsubsidiesforexciseondieseloilforfarmersandbettertargeteligibilityto
halveheatingoilsubsidiesexpenditureinthebudget2016;
inviewofanyrevisionofthezonalpropertyvalues,adjustthepropertytaxratesif
necessarytosafeguardthe2015and
2016propertytaxrevenuesat2.65billionandadjustthealternativeminimum
personalincometaxation.(4
eliminatethecrossborderwithholdingtaxintroducedbytheinstallmentsact(law
XXXX/2015)andreversetherecent}amendmentstotheITCinthepublic
administrationact(lawXXXX/2015),includingthespecialtreatmentofagricultural
income.
adoptoutstandingreformsonthecodesonincometax.andtaxprocedures:
introduceanewCriminalLawonTaxEvasionandFraudtoamendtheSpecialPenal

Law2523/1997andanyotherrelevantlegislation,andreplaceArticle55,ils1and2,
oftheTPC,withaview,interalia,tomodernizeandbroadenthedefinitionoftax
fraudandevasiontoalltaxes;abolishallCodeofBookandRecordsfines,including
thoseleviedunderlaw2523/1997developthetaxframeworkforcollective
investmentvehiclesandtheirparticipantsconsistentlywiththeITCandinlinewith
bestpracticesintheEU.
adoptlegislationtoupgradetheorganicbudgetlawto:
(i)introduceaframeworkforindependentagencies;
(ii)phaseoutexanteauditsoftheHellenicCourtofAuditorsandaccountofficers
(ypologos);
(iii)giveGDFSsexclusivefinancialservicecapacityandGAOpowerstooversee
publicsectorfinances;and
(iv)phaseoutfiscalauditofficesbyJanuary2017.
increasetherateofthetonnagetaxandphaseoutspecialtaxtreatmentsofthe
shippingindustry.
BySeptember2015,
(i)simplifythepersonalincometaxcreditschedule;
(ii)redesignandintegrateintotheITCthesolidaritysurchargeforincomeof2016to
moreeffectivelyachieveprogressivityintheincometaxsystem;
(iii)issueacircularonfinestoensurethecomprehensiveandconsistentapplicationof
theTPC;
(iv)andotherremainingreformsasspecifiedinoftheIMFCountryReportNo.
14/151.

Onhealthcare,effectiveasofJuly1,2015,
(i)reestablishfullINNprescription,withoutexceptions,
(ii)reduceasafirststepthepriceofalloffpatentdrugsto50percentandallgenerics
to32.5percentofthepatentprice,byrepealingthegrandfatheringclausefor
medicinesalreadyinthemarketin2012,and
(iii))reviewandlimitthepricesofdiagnosticteststobringstructuralspendinginline
withclawbacktargets;and
(iv)collectinthefullthe2014clawbackforprivateclinics,diagnosticsand
pharmaceuticals,andextendtheir2015clawbackceilingsto2016.
LaunchtheSocialWelfareReviewundertheagreedtermsofreferencewiththe
technicalassistanceoftheWorldBanktotargetsavingsofVipercentofGDPwhich
canhelpfinanceafiscallyneutralgradualrolloutoftheGMIinJanuary2016.
Adoptlegislationto:
reducetheexpenditureceilingformilitaryspendingby100millionin2015andby

200millionin2016withatargetedsetofactions,includingareductioninheadcount
andprocurement;
introducereformoftheincometaxcode,[interaliacoveringcapitaltaxation],
investmentvehicles,farmersandtheselfemployed,etc.;
raisethecorporatetaxratefrom26%to28%;
introducetaxontelevisionadvertisements;
announceinternationalpublictenderfortheacquisitionoftelevisionlicensesand
usagerelatedfeesofrelevantfrequencies;and
extendimplementationofluxurytaxonrecreationalvesselsinexcessof5meters
andincreasetheratefrom10%to13%,comingintoeffectfromthecollectionof2014
incometaxesandbeyond;
extendGrossGamingRevenues(GGR)taxationof30%onVLTgamesexpectedto
beinstalledatsecondhalfof2015and2016;
generaterevenuesthroughtheissuanceof4Gand5Glicenses.
Wewillconsidersomecompensatingmeasures,incaseoffiscalshortfalls:
(i)Increasethetaxratetoincomeforrents,forannualincomesbelow12.000to15%
(from11%)withanadditionalrevenueof160millionandforannualincomesabove
12,000to
35%(from33%)withanadditionalrevenueof40million;
(ii)thecorporateincometaxwillincreasebyanadditionalpercentagepoint(i.e.
from28%to29%)thatwillresultinadditionalrevenuesof130million.
Taxheaven
3. .
(..
),
2015100%
,,
2017.
2017,

2016
,
,,
20152016
2,65.

(/2015)
()
(/2015),
(/2015)


,
2523/1997
,.
1,255,(4174/2013),,,

2523/1997

ITC
.

()
(ii).
(iii)
.
(iv)
2017

.

2015
(i)
.
(II)
2016.
(iii)
.

12015,
(
prescription),.
(off
patent)50%,32,5%.

.
(clawback)2014,
,.2016
2015.

1002015200
2016,
.
,
[],,

20162628%

,


51013%,
2014
(grossgaming
revenues/GGR)30%
20152016
45G
,
:
(i),12.000
15%(11%),160
12.00035%(33%)40.000.000.
(ii)
(28%29%),
130.000.000.

4.Pensionreform
TheAuthoritiesrecognisethatthepensionsystemisunsustainableandneeds
fundamentalreforms.Thisiswhytheywillimplementinfullthe2010pensionreform
law(3863/2010),andimplementinfullorreplace/adjustthesustainabilityfactorsfor
supplementaryandlumpsumpensionsfromthe2012reformasapartofthenew
pensionreforminOctober2015toachieveequivalentsavingsandtakefurthersteps
toimprovethepensionsystem.
EffectivefromJuly1,2015theauthoritieswillphaseinreformsthatwoulddeliver
estimatedpermanentsavingsof'percentofGDPin2015and1percentofGDP
onafullyearbasisin2016andthereafterbyadoptinglegislationto:
createstrongdisincentivestoearlyretirement,includingtheadjustmentofearly
retirementpenalties,andthroughagradualeliminationofgrandfatheringtostatutory
retirementageandearlyretirementpathwaysprogressivelyadaptingtothelimitof
statutoryretirementageof67years,or62and40yearsofcontributionsby2022,

applicableforallthoseretiring(exceptarduousprofessions,andmotherswith
childrenwithdisability)withimmediateapplication;
adoptlegislationsothatwithdrawalsfromtheSocialInsuranceFundwillincuran
annualpenalty,forthoseaffectedbytheextensionoftheretirementageperiod,
equivalentto10percentontopofthecurrentpenaltyof6percent;
integrateintoallsupplementarypensionfundsandensurethat,startingJanuary
1,2015,allsupplementarypensionfundsareonlyfinancedbyowncontributions;
bettertargetsocialpensionsbyincreasingOGAuninsuredpension;
Graduallyphaseoutthesolidaritygrant(EKAS)forallpensionersbyendDecember
2019.Thisshallbelegislatedimmediatelyandshallstartasregardsthetop20%of
beneficiariesinMarch2016withthemodalitiesofthephaseouttobeagreedwiththe
institutions;
freezemonthlyguaranteedcontributorypensionlimitsinnominaltermsuntil2021;
providetopeopleretiringafter30June2015thebasic,guaranteedcontributory,and
meanstestedpensionsonlyattheattainmentofthestatutorynormalretirementageof
currently67years;
increasethehealthcontributionsforpensionersfrom4%to6%onaverageandextend
ittosupplementarypensions;
phaseoutallstatefinancedexemptionsandharmonizecontributionrulesforall
pensionfundswiththestructureofcontributionstoIKAfrom1July2015;
Moreover,inordertorestorethesustainabilityofthepensionsystem,theauthorities
willby31October2015,legislatefurther
reformstotakeeffectfrom1January2016;
(i)specificdesignandparametricimprovementstoestablishacloserlinkbetween
contributionsandbenefits;
(ii)broadenandmodernizethecontributionandpensionbaseforallselfemployed,
includingby
switchingfromnotionaltoactualincome,subjecttominimumrequiredcontribution
rules;
(iii)reviseandrationalizealldifferent
systemsofbasic,guaranteedcontributoryandmeanstestedpensioncomponents,
takingintoaccountincentivestoworkand
contribute;
(iv)themainelementsofacomprehensiveSSFsconsolidation,includingany
remainingharmonizationofcontribution
andbenefitpaymentrulesandproceduresacrossallfunds;
(v)abolishallnuisancechargesfinancingpensionsandoffsetbyreducingbenefitsor
increasingcontributionsinspecificfundstotakeeffectfrom31October2015;and
(vi)harmonizepensionbenefitrulesoftheagriculturalfund(OGA)withtherestof
thepensionsysteminaproratamanner,unlessOGAismergedintootherfunds.The
consolidationofsocialinsurancefundswilltakeplacebyend2017.In2015.the
processwillbeactivatedthroughlegislationtoconsolidatethesocialinsurancefunds
underasingleentityandtheoperationalconsolidationwillhavebeencompletedby

31December2016.Furtherreductionsintheoperatingcostsandamoreeffective
managementoffundresources,includingimprovedbalancingofneedsbetween
betteroffandpoorerofffundswillbeactivelyencouraged.
Theauthoritieswilladoptlegislationtofullyoffsetthefiscaleffectsofthe
implementationofcourtrulingsonthe2012pension\
reform.
Inparalleltothereformofthepensionsystem,aSocialWelfareReviewwillbe
carriedouttoensurefairnessofthevariousreforms.
Theinstitutionsarepreparedtotakeintoaccountotherparametricmeasureswithin
thepensionsystemofequivalenteffecttoreplacesomeofthemeasuresmentioned
above,takingintoaccounttheirimpactongrowth,andprovidedthatsuchmeasures
arepresentedtotheinstitutionsduringthedesignphaseandaresufficientlyconcrete
andquantifiable,andintheabsenceofthisthedefaultoptioniswhatisspecified
above.

5.PublicAdministration,JusticeandAntiCorruption
Adoptlegislationto:
reformtheunifiedwagegrid,effective1January,2016,settingthekeyparametersin
afiscallyneutralmannerandconsistentwiththeagreedwagebilltargetsandwith
comprehensiveapplicationacrossthepublicsector,includingdecompressingthe
wagedistributionacrossthewagespectruminconnectionwiththeskill,performance
andresponsibilityofstaff.(Theauthoritieswillalsoadoptlegislationtorationalisethe
specialisedwagegrids,byendNovember2015);
alignnonwagebenefitssuchasleavearrangements,perdiems.travelallowancesand
perks,withbestpracticesintheEU,effective1January2016;
establishwithinthenewMTFSceilingsforthewagebillandthelevelofpublic
employmentconsistentwithachievingthefiscaltargetsandensuringadecliningpath
ofthewagebillrelativetoGDPuntil2019;
hiremanagersandassessperformanceofallemployees(withtheaimtocompletethe
hiringofnewmanagersby31December2015subsequenttoareviewprocess)
introduceanewpermanentmobilityschemeappliedbyQ42015.
Theschemewillpromotetheuseofjobdescriptionandwillbelinkedwithanonline
databasethatwillincludeallcurrentvacancies.
Finaldecisiononemployeemobilitywillbetakenbyeachserviceconcerned.This
willrationalizetheallocationofresourcesaswellasthestaffingacrosstheGeneral
Government.
reformtheCivilProcedureCode,inlinewithpreviousagreements;introduce
measurestoreducethebacklogofcasesinadministrativecourts;workcloselywith
Europeaninstitutionsandtechnicalassistanceonejustice.mediationandjudicial
statistics
strengthenthegovernanceofELSTAT.
Itshallcover
(i)theroleandstructureoftheAdvisorybodiesoftheHellenicStatisticalSystem,
includingtherecastingoftheCouncilofELSStoanadvisoryCommitteeoftheELSS,
andtheroleoftheGoodPracticeAdvisoryCommittee(GPAC);(ii)therecruitment
procedureforthePresidentofELSTAT,toensurethataPresidentofthehighest

professionalcalibreisrecruited,followingtransparentproceduresandselection
criteria;
(iii)
theinvolvementofELSTATasappropriateinanylegislativeorotherlegalproposal
pertainingtoanystatisticalmatter;
(iv)otherissuesthatimpacttheindependenceofELSTAT,includingfinancial
autonomy,theempowermentofELSTATtoreallocateexistingpermanentpostsand
tohirestaffwhereitisneededandtohirespecialisedscientificpersonnel,andthe
classificationoftheinstitutionasafiscalpolicybodyintherecentlaw4270/2014;
roleandpowersofBankofGreeceinstatisticsinlinewith
Europeanlegislation.
PublisharevisedStrategicPlanagainstCorruptionby31July2015.Amendand
implementthelegalframeworkforthedeclarationofassetsandfinancingofthe
politicalpartiesandadoptlegislationinsulatingfinancialcrimeandanticorruption
investigationsfrompoliticalinterventioninindividualcases.
Moreover,incollaborationwiththeOECD.theAuthoritieswill:
StrengthencontrolsinpublicentitiesandespeciallySOEs.EmpowertheLine
Ministriestoperformrobustauditand\controlinspectionstosupervisedentities
includingSOEs.^
StrengthencontrolsandinternalauditprocessesinhighspendingLocalGovernment
Institutionsandtheirsupervisedlegalentities.
Strengthencontrolsinpublicandprivateinvestmentcasesfundedeitherbynational
orcofundedbyothersources,publicworksandpublicprocurement(e.g.inhealth
sector,SDIT).
Strengthentransparencyandcontrolprocessesandskillsintaxandcustoms
authorities.
Assessmajorrisksinthepublicprocurementcycle,takinginconsiderationthe
recentdevelopments(CentralPurchasingandeProcurement:K.HMDHSand
ESI1DHS)andtheneedtohaveacleargovernanceframework.Developstrategy
accordingtotheassessmentQ42015)
Implementstrategytomitigatepublicprocurementrisks.(Q12016)
Assess2specificsectors.HealthandPublicWorksinordertounderstandthe
existingconstrainsrelatedtocorruptionandwasterisksandproposemeasuresto
addressthem.Developandimplementstrategy.(Q42015)

6.Taxadministration
Takethefollowingactionsto:
Adoptlegislationtoestablishanautonomousrevenueagency,thatspecifies:
(i)theagency'slegalform,organization,status,andscope;(ii)thepowersand
functionsoftheCEOandtheindependentBoardofGovernors;
(iii)therelationshiptotheMinisterofFinanceandothergovernmententities;
(iv)theagency'shumanresourceflexibilityandrelationshiptothecivilservice;

(v)budgetautonomy,withownGDFSandanewfundingformulatoalignincentives
withrevenuecollectionandguaranteebudgetpredictabilityandflexibility;(vi)
reportingtothegovernmentandparliament;and
(vii)theimmediatetransferofalltaxandcustomsrelatedcapacitiesanddutiesand
alltaxandcustomsrelatedstaffinSDOEandotherentitiestotheagency.
ongarnishments,adoptlegislationtoeliminatethe25percentceilingonwagesand
pensionsandlowerallthresholdsof1,500whileensuringinallcasesreasonable
livingconditions;accelerateprocurementofITinfrastructuretoautomatizee
garnishment;improvetaxdebtwriteoffrules;removetaxofficers'personalliabilities
fornotpursuingolddebt;removerestrictionsonconductingauditsoftaxreturnsfrom
2012subjecttotheexternaltaxcertificatescheme;andenforceiflegallypossible
upfrontpaymentcollectionintaxdisputes.
amend
(i)the201415taxandSSCdebtinstalmentschemestoexcludethosewhofailtopay
currentobligationsandintroducearequirementforthetaxandsocialsecurity
administrationstoshortenthedurationforthosewiththecapacitytopayearlierand
introducemarketbasedinterestrates;theLDUandKEAOwillassessbySeptember
2015thelarge
debtorswithtaxandSSCdebtexceeding1million(e.g.verifytheircapacitytopay
andtakecorrectiveaction)and
(ii)thebasicinstalmentscheme/TPCtoadjustthemarketbasedinterestratesand
suspenduntilend2017thirdpartyverificationandbankguaranteerequirements.
adoptlegislationtoacceleratederegistrationproceduresandlimitVATre
registrationtoprotectVATrevenuesandaccelerateprocurementofnetworkanalysis
software;andprovidethePresidentialDecreeneededforthesignificantly
strengtheningthereorganisationoftheVATenforcementsectioninorderto
strengthenVATenforcementandcombatVATcarouselfraud.Theauthoritieswill
submitanapplicationtotheEUVATCommitteeandprepareanassessmentofthe
implicationofanincreaseintheVATthresholdto25.000.
combatfuelsmuggling,vialegislativemeasuresforlocatingstoragetanks(fixedor
mobile);
Produceacomprehensiveplanwithtechnicalassistanceforcombatingtaxevasion
whichincludes
(i)identificationof\undeclareddepositsbycheckingbanktransactionsinbanking
institutionsinGreeceorabroad,
(ii)introductionofav^voluntarydisclosureprogramwithappropriatesanctions,
incentivesandverificationprocedures,consistentwithvinternationalbestpractice,
andwithoutanyamnestyprovisions
(iii)requestfromEUmemberstatestoprovidedataon
assetownershipandacquisitionbyGreekcitizens,
(iv)renewtherequestfortechnicalassistanceintaxadministrationandmakefulluse
oftheresourceincapacitybuilding,
(v)establishawealthregistrytoimprovemonitoring.
developacostedplanforthepromotionoftheuseofelectronicpayments,making
useoftheEUStructuralandInvestmentFund;

Createatimeseriesdatabasetomonitorthebalancesheetsofparentsubsisdiary
companiestoimproveriskanalysiscriteriafortransferpricing
7.Financialsector
Adopt:(i)amendmentstothecorporateandhouseholdinsolvencylawsincludingto
coveralldebtorsandbringthecorporateinsolvencylawinlinewiththeOCWlaw;
(ii)amendmentstothehouseholdinsolvencylawtointroduceamechanismto
separatestrategicdefaultersfromgoodfaithdebtorsaswellassimplifyand
strengthentheproceduresandintroducemeasurestoaddressthelargebacklogof
cases;
(iii)amendmentstoimproveimmediatelythejudicialframeworkforcorporateand
householdinsolvencymatters;
(iv)legislationtoestablisharegulatedprofessionofinsolvencyadministrators,not
restrictedtoanyspecificprofessionandinlinewithgoodcrosscountryexperience;
(v)acomprehensivestrategyforthefinancialsystem:thisstrategywillbuildonthe
strategydocumentfrom2013,takingintoaccountthenewenvironmentand
conditionsofthefinancialsystemandwithaviewofreturningthebanksinprivate
ownershipbyattractinginternationalstrategicinvestorsandtoachieveasustainable
fundingmodeloverthemediumterm:and
(vi)aholisticNPLresolutionstrategy,preparedwiththehelpofastrategic
consultant.
8.Labourmarket
Launchaconsultationprocesstoreviewthewholerangeofexistinglabourmarket
arrangements,takingintoaccountbestpracticeselsewhereinEurope.Furtherinputto
theconsultationprocessdescribedabovewillbeprovidedbyinternational
organisations,includingtheILO.Theorganizationandtimelinesshallbedrawnupin
consultationwiththeinstitutions.Inthiscontext,legislationonanewsystemof
collectivebargainingshouldbereadybyQ42015.Theauthoritieswilltakeactionsto
fightundeclaredworkinordertostrengthenthecompetitivenessoflegalcompanies
andprotectworkersaswellastaxandsocialsecurityrevenues.
9.Productmarket
Adoptlegislationto:
implementallpendingrecommendationsoftheOECDcompetitiontoolkit1,except
OTCpharmaceuticalproducts,startingwith:touristbuses,trucklicenses,codeof
conductfortraditionalfoodstuff,eurocodesonbuildingmaterials,andalltheOECD
toolkitIIrecommendationsonbeveragesandpetroleumproducts;
Inordertofostercompetitionandincreaseconsumerwelfareimmediatelylauncha
newcompetitionassessment,incollaborationandwiththetechnicalsupportofthe
OECD,onwholesaletrade,construction,ecommerceandmedia.Theassessmentwill
beconcludedbyQ12016.TherecommendationswillbeadoptedbyQ22016.
opentherestrictedprofessionsofengineers,notaries,actuaries,andbailiffsand
liberalizethemarketfortouristrentals;
eliminatenonreciprocalnuisancechargesandalignthereciprocalnuisancecharges
totheservicesprovided;
reduceredtape,includingonhorizontallicensingrequirementsofinvestmentsand
onlowriskactivitiesasrecommendedbytheWorldBank,andadministrativeburden

ofcompaniesbasedontheOECDrecommendations,and(ii)establishacommittee
fortheinterministerialpreparationoflegislation.TechnicalassistanceoftheWorld
Bankwillbesoughttoimplementtheeasingoflicensingrequirements.
designelectroniconestopshopsforbusinessesthroughanalysinginformation
obligationsbusinesseshavetocomplywith,structuringthemaccordinglyandhelping
todesignaprojectondevelopingthenecessaryICTtoolsandinfrastructure(Q3
2015).Settinguptheinstitutionalandcoordinationstructure,identificationofthe
businesslifeeventstobeincluded,identificationandmappingofinformation
obligations&administrativeproceduresandtrainingofofficials(Q42015).Launch
(Q12016)
adoptthereformofthegasmarketanditsspecificroadmap,andimplementation
shouldfollowsuit.
takeirreversiblesteps(includingannouncementofdateforsubmissionofbinding
offers)toprivatizetheelectricitytransmissioncompany.ADMIE,orprovideby
October2015analternativescheme,withequivalentresultsintermsofcompetition,
inlinewiththebestEuropeanpracticestoprovidefullownershipunbundlingfrom
PPC,whileensuringindependence.
Onelectricitymarkets,theauthoritieswillreformthecapacitypaymentssystemand
otherelectricitymarketrulestoavoidthatsomeplantsareforcedtooperatebelow
theirvariablecost,andtopreventthenettingofthearrearsbetweenPPCandmarket
operator;setPPCtariffsbasedoncosts,includingreplacementofthe20%discount
forHVuserswithcostbasedtariffs;andnotifyNOMEproductstotheEuropean
Commission.Theauthoritieswillalsocontinuetheimplementationoftheroadmapto
theEUtargetmodelprepareanewframeworkforthesupportofrenewableenergies
andfortheimplementationofenergyefficiencyandreviewenergytaxation;the
authoritieswillstrengthentheelectricityregulator'sfinancialandoperational
independence:
10.Privatization
TheBoardofDirectorsoftheHellenicRepublicAssetDevelopmentFundwill
approveitsAssetDevelopmentPlanwhichwillincludeforprivatisationalltheassets
underHRDAFasof31/12/2014:andtheCabinetwillendorsetheplan.
Tofacilitatethecompletionofthetenders,theauthoritieswillcompleteall
governmentpendingactionsincludingthoseneededfortheregionalairports,
TRAINOSE.Egnatia.theportsofPireausandThessalonikiandHellinikon(precise
listinTechnicalMemorandum).Thislistofactionsisupdatedregularlyandthe
Governmentwillensurethatallpendingactionsaretimelyimplemented.
Thegovernmentand11RADFwillannouncebindingbiddatesforPiraeusand
ThessalonikiportsofnolaterthanendOctober2015,andforTRAINOSEROSCO,
withnomaterialchangesinthetermsofthetenders.
Thegovernmentwilltransferthestate'ssharesinOTEtotheHRADF.
Takeirreversiblestepsforthesaleoftheregionalairportsatthecurrenttermswith
thewinningbidderalreadyselected.
http://taxheaven.gr